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How the 2018 budget impacts hospitality

11 May 2018

An example of this is the Melbourne to Brisbane Inland Rail project, for which the Federal Government committed $593.7 million in equity to the Australian Rail Track Corporation.

The Growth Plan includes a landmark 10-year $500 million commitment to the Genomics Health Futures Mission.

The budget has handed down that the government intends to bump up the unincorporated small business tax discount rate from 5 percent to 8 percent, up to a cap of $1000, with the rate increasing to 16 percent by 2026-27.

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The Microsoft founder even told a story of how he was given some bitcoins as a birthday present, which he sold a few years later. Bill Gates concluded that the underlying blockchain technology is very important, but cryptocurrencies themselves are worthless.

A new IT system will also be implementing using AU$36.2 million in funding over four years to support the VET Student Loans program's compliance and regulatory arrangements, utilising DHS' IT platform and operational support from the latter. Annually, the road toll costs the broader economy $30 billion, of which $3.7 billion is paid by state and federal governments, according to figures supplied by the AAA, which has called for the government to put aside $10 million for the revival of the Federal Office of Road Safety. This disbursement will include additional funding for the Australia's National Research Infrastructure (NRI), and the Australian Technology and Science Growth Plan that will deliver cutting edge digital infrastructure to boost the economy.

Research across biomedtech programs will be bolstered by $94.3 million, which will be used to increase biomedical research and better integrate Australian researchers with the industry.

A$707 million from the A$20 billion Medical Research Future Fund (MRFF) will go to support the Frontier Health and Medical Research program.

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Sonam Kapoor-Ahuja will be at the French Riviera as a newlywed and make heads turn on May 14 and 15. And he has brought Star Warsback to Cannes for the megawatt premiere of Solo: A Star Wars Story .

$248 million for research on rare cancers and diseases. The Australian Government also expects that this will have a trickle-down effect on traditional industries - allowing them to improve efficiencies, increase their access to global markets, and make them more competitive. The program is predicted to have the potential to revolutionise health care by enabling more accurate diagnosis and treatment.

It also outlined how, linking the arts to other portfolios would strengthen outcomes in innovation, tourism, cultural diplomacy, education and health, "and contribute significantly to the resilience of regional communities...(and) recognising the significance of First Nations artists and arts organisations, and supporting the ongoing work, with government investment, to carry forward their rich culture".

Prime Minister Malcolm Turnbull had last week announced a review of the APS to look into whether Australia's government departments are "equipped to engage with the key policy, service delivery, and regulatory issues of the day" in the face of digitisation.

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An Austin woman turned $18 into $1.2 million by betting on the Kentucky Derby on Saturday, according to ABC News . Good Magic's sire, Curlin, won the Preakness in 2007 after finishing third at the Kentucky Derby .

Universities were also hit, as funding freezes announced during the Mid-Year Economic Financial Outlook were extended. A large part of this funding will be delivered in partnership with the Great Barrier Reef Foundation, with a focus on improving water quality, funding research into coral restoration and adaptation and combating crown-of-thorn starfish.

How the 2018 budget impacts hospitality